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1 Oct 2013
EUR/USD bouncing from 1.3540
FXstreet.com (Edinburgh) -After hitting fresh multi-month highs around 1.3590, sellers turned up and dragged the EUR/USD to the vicinity of 1.3540 on Tuesday.
EUR/USD up on weaker USD
The offered tone around the greenback continues to prevail in the first half of the week, pushing the pair higher despite the softer tone in September’s manufacturing PMI prints from core euro zone members. In the opinion of AceTrader Team, “Today, selling euro on intra-day recovery in anticipation of further weakness is favoured and only above 1.3524 would signal that the pullback from 1.3565 has possibly ended and above 1.3565/69 resistance would extend the uptrend to 1.3610”.
EUR/USD critical levels
As of writing the pair is up 0.18% at 1.3551 and a break above 1.3598 (high Feb.5). On the flip side, a breakdown of 1.3467 (low Sep.30) would expose 1.3462 (low Sep.25) and finally 1.3459 (23.6% of 1.3104-1.3569).
EUR/USD up on weaker USD
The offered tone around the greenback continues to prevail in the first half of the week, pushing the pair higher despite the softer tone in September’s manufacturing PMI prints from core euro zone members. In the opinion of AceTrader Team, “Today, selling euro on intra-day recovery in anticipation of further weakness is favoured and only above 1.3524 would signal that the pullback from 1.3565 has possibly ended and above 1.3565/69 resistance would extend the uptrend to 1.3610”.
EUR/USD critical levels
As of writing the pair is up 0.18% at 1.3551 and a break above 1.3598 (high Feb.5). On the flip side, a breakdown of 1.3467 (low Sep.30) would expose 1.3462 (low Sep.25) and finally 1.3459 (23.6% of 1.3104-1.3569).